PenCom aims to improve police pensions, says exit from CPS not needed
By Johnbosco Agbakwuru ABUJA —THE The National Pension Commission, PenCom, has moved to allay rising unrest among Nigeria Police personnel about remaining in the Contributory Pension Scheme (CPS), saying it aims to secure improved retirement benefits for officers—not to back their withdrawal from the scheme.
Beyond the police pension issue, the Director-General said the commission expects pension enrolment among workers in the informal sector to rise significantly within the next two years as reforms aimed at expanding pension coverage begin to take effect.
According to her, the revised policy broadens investment opportunities in financially strong Tier-1 institutions such as First Bank, Zenith Bank and United Bank for Africa (UBA), enabling pension funds to benefit from their market performance without compromising contributors’ savings.
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